Home Depot, Wal-Mart, and Target reported their 3rd
quarter earnings yesterday. Although the retailers are doing better
than last year, they are still not performing as per expectations.
Realtors believe yesterday’s Pending Home
Sales (MoM) were down .6% due to the government shutdown. Gold prices
were down Monday morning after news about Iran halting its nuclear
activity was released but bounced back up in the afternoon due to short
covering and options related buying. All the metals
with the exception of PD are trading on the upside today. The AMCU
(Association of Mineworkers and Construction Union) have postponed talks
about a possible strike over wages and will bring the topic back up for
discussion in January. The Consumer Confidence
numbers come out at 10:00 a.m. today. Other than that, it’s expected to
be a quiet week in the markets as people are getting ready for Turkey
Day.
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